World is watching China’s ‘two sessions’
Source: dairynews.today
Economic prospects in focus as the Communist Party sets out the country’s direction each March.
The annual gatherings of two top-level political bodies in China, known as "the two sessions", are a significant event for Chinese politics every March.
These meetings, involving the National People’s Congress and the Chinese People’s Political Consultative Conference, set the core policy directions for China each year.
The Chinese economy, valued at US$18.52 trillion in 2024, shows signs of slowing growth and is impacted by various factors such as housing, local government debt, and demographic changes.
Despite growth rates of just 2%, the economy continues to exert significant influence globally. Challenges such as boosting domestic consumer demand remain as China is often accused of tilting the market through pricing and state subsidies.
However, China's innovative capacity and strategic adjustments, such as increasing retirement ages, demonstrate its adaptive strategies.
As China navigates its role as a "great power" governed by the Communist Party since 1949, the international community watches its balancing acts with economic and geopolitical interests, as articulated by John McKinnon, the former New Zealand ambassador to China.
These meetings, involving the National People’s Congress and the Chinese People’s Political Consultative Conference, set the core policy directions for China each year.
The Chinese economy, valued at US$18.52 trillion in 2024, shows signs of slowing growth and is impacted by various factors such as housing, local government debt, and demographic changes.
Despite growth rates of just 2%, the economy continues to exert significant influence globally. Challenges such as boosting domestic consumer demand remain as China is often accused of tilting the market through pricing and state subsidies.
However, China's innovative capacity and strategic adjustments, such as increasing retirement ages, demonstrate its adaptive strategies.
As China navigates its role as a "great power" governed by the Communist Party since 1949, the international community watches its balancing acts with economic and geopolitical interests, as articulated by John McKinnon, the former New Zealand ambassador to China.
